KASIKORNBANK
KASIKORNBANK
KASIKORNBANK (Thai: ธนาคารกสิกรไทย, Chinese: 开泰银行; pinyin: Kāi Tài Yínháng, often stylised as KBank and formerly known as the Thai Farmers Bank) is a major banking group in Thailand. KBank was established on 8 June 1945 (2488 BE) by Choti Lamsam, with registered capital of five million baht. It has been listed on the Stock Exchange of Thailand since 1976. The current chairman and CEO is Bantoon Lamsam, the grandson of the founder. In 2003, Thai Farmers Bank changed its name to KASIKORNBANK or KBank.
As of September 2018 KBank was the fourth largest commercial bank in Thailand as measured by total assets, loans, and deposits, with the market shares of 15.2%, 15.0% and 15.6% respectively. Kasikornbank has a registered capital of 30.5 billion baht with paid up capital of 23.9 billion baht and market capitalization of 517 billion baht (ranked #1 in the banking sector on the Stock Exchange of Thailand). KBank has consolidated assets of 3.155 trillion baht (about USD97.2bn), total deposits of 1.995 trillion baht and total loans outstanding of 1.914 trillion baht[1]. The bank offers consumer banking such as mobile and credit card, mortgage lending, wealth management, corporate banking services including cash management, international trade financing, lending, deposit-taking, supply chain financing, Bancassurance, FX and derivatives, investment banking, custodian services, asset management, securities service, and factoring.
Kasikornbank (then Thai Farmers Bank) was established on 8 June 1945, with registered capital of 5 million bahts and 21 employees. Its first office is now the Thanon Sua Pa Main Branch. The bank showed healthy performance after only six months in operation. As of 31 December 1945, or at the end of its first accounting period, the bank recorded total deposits of 12 million bahts and with assets of 15 million baht.
KBank headquarters is located on Ratburana road, Bangkok. The operations and IT hubs take place in the buildings located in Impact, Muang Thong Thani, Bangkok. The hub of sales, trading and investment banking is located at 400/22 Phahonyotin avenue. Kasikorn Research Center, Asset Management and Securities businesses are also located on Phahonyothin building.
Kasikornbank operates close to a thousand branches, over 9,000 ATMs, 140 foreign exchange booths and 58 international trade centers throughout Thailand. The bank branch network extends throughout Thailand’s 77 provinces, as well as overseas.
· 2 locally incorporated institution: KASIKORNBANK (CHINA) Co., Ltd. (has; 3 branches in Shenzhen, Chengdu and Shanghai; one sub-branch in Longgang district, Shenzhen; and 2 rep-offices in Beijing and Kunming) and KASIKORNTHAI BANK Ltd. (in Lao PDR)
· 3 overseas branches: Phnom Penh, Hong Kong and Cayman Islands
· 6 representative offices: Tokyo, Yangon, Hanoi, Ho Chi Minh, Los Angeles and Jakarta.
KBank provides financial products and services through its core business divisions:
Corporate Banking and SME Business provides lending, project financing, trade credit, cash management solution, custodian, FX & derivatives risk management, etc.
Retail Business provides bank account, credit card, debit card, K-Personal Credit, K-Payroll Benefit, K-Home Loan, wealth management, insurance, foreign currency bank note exchange, and money transfer thru digital banking solution.
